Shuttlers, a Nigerian bus-sharing platform, has raised $1.6 million in seed funding led by Chicago and Africa-focused investment firm VestedWorld.
Other investors in the round include Interswitch, Rising Tide Africa, Launch Africa, EchoVC, Consonance Investment, CcHub Syndicate, CMC 21 & Alsa, ShEquity, Five35, Sakore, and Nikky Taurus.
Founded in 2016 by Damilola Olokesusi, Shuttlers is a platform that enables professionals to access efficient shared transportation. The firm helps transform the stressful time commuting to and from work into a productive, refreshing and relaxing experience.
With Shuttlers App, professionals can book a seat on a route, pay for a seat, and track the arrival of their shuttles. The goal is to help you commute to work and back home in the most comfortable, safe, fun, and affordable way possible.
Per its numbers, the company claims to have over 10,000 users across its mobile app and website users. In addition, the mobility startup has over 100 unbranded and branded buses on its platform with over 30 routes in Lagos and more than 300 bus stops. In total, they have recorded more than 2 million trips since the company’s inception.
Beyond Lagos, the company also operates in Nigeria’s capital city Abuja.
Commenting on the timing of the investment, Olokesusi said: “We just made the right decision for the company at this particular right time so we can get ready for the opportunity that happens after. Now we are ready to take over the African market, starting with Nigeria and West African markets in the next couple of months.”
For Nneka Eze, the managing director at lead investor VestedWorld, she said the “investment will help Shuttlers extend its offering to adjacent markets and help solve inefficiencies in the transportation sector across regions in Africa.”
